Pesticides are chemical or biological substances used to protect crops from pests that can destroy or harm them. Pesticides repel, destroy, or reduce pests including insects, pathogens, weeds, and microbes. Over the last 40 years, pesticides have come up as an indispensable tool to increase crop production, globally. Chemically and on the basis of usage, pesticides can be categorized as organochlorines, organophosphates, pyrethroids, fungicides, and insecticides. Though still in the emerging stage, biological pesticides are more beneficial and nontoxic in nature.

Besides carbon, hydrogen, and oxygen, plants require different types of nutrients for their growth. Most of the nutrients, such as nitrogen, phosphorus, sulfur, and potassium are found in the soil itself. But due to year-by-year farming, soil erosion, and other factors, soil loses its potential to supply the required amount of nutrients to the crops. In
order to overcome this, fertilizers are used to fulfill the deficiencies in the soil so that it can supply essential nutrients to the plants. The chemical/inorganic fertilizers are commercially produced in the form of granules or powders, and are mainly classified into three categories: nitrogen fertilizers, phosphorus fertilizers, and potassium fertilizers.

It has been observed that the focus of the agrochemicals industry is moving towards the development of agrochemicals. This is not just increasing crop productivity and protecting them from pesticides, but also working mutually with the end use applicators (i.e. farmers) to train and educate them about proper application of fertilizers and pesticides. This practice will provide the customers a value for their money and more efficient use of agrochemicals will restrict the entry of any unwanted chemical in the food chain. Hence, working in association with customers and suppliers, the companies must ensure the supply of products that provides solution to the end-user keeping in mind the sustainability of the environment in which the product will be used.

It is expected that the global agrochemicals market will grow at a CAGR of 3.0%, over the next five years to reach 401,816.9 KT by 2018. Asia-Pacific, with its thriving economies and rapidly expanding population, is expected to experience the highest consumption from 2013 to 2018.

This report estimates the agrochemicals market for the current year i.e. 2013 and forecasts the same by 2018. It covers the market by two aspects: By type and By Geography. In types, the market has been segmented up to three levels. The first level estimates the market in terms of Fertilizers and Pesticides market volume and value. The second level segments fertilizers market to Nitrogenous, Phosphatic and Potassic types, while the pesticides market to Organophosphates, Pyrethroids, Neonicotinoides, Biopesticides and Others. The third level segmentation of the above provides a micro-level analysis of the agrochemicals market.

Under geographies, the report estimates the demand of agrochemicals at each and every level for North America, Latin America, Asia-Pacific, Europe and Rest of the World (ROW) regions for current as well as forecasted period.
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The global agrochemicals market is witnessing growth on account of increasing demand of grains for both edible and industrial applications. On the basis of use, agrochemicals are of two types: fertilizers and pesticides. Both of these can be used for agricultural and non-agricultural applications such as lawns and ornamental use. The mode of action of both types differs from each other. The former provides nutrient to the plants by being absorbed by the plant roots. The use of fertilizers is essential to improve nutrient profile of the soil and increase per hectare production. On the other hand, pesticides control the growth of unwanted plants and diseases such as weeds, fungus, bacteria, insects, etc. It is used to protect the crops (whether standing or stored) from harmful pests. Thus, the use of both fertilizers and pesticides is very important to support the growing demand of crops.

The global agrochemicals market in terms of revenue was estimated to be worth $195,829.9 million in 2012 and is expected to reach $242,757.8 million by 2018, growing at a CAGR of 3.6% from 2013 to 2018. Asia-Pacific and Latin America dominate the global agrochemicals market demand in 2012. Asia-Pacific is expected to remain the largest market in the near future owing to the increasing demand for food crops from its key countries–China and India.

Asia-Pacific dominates the global agrochemicals market, accounting for major share in overall consumption in 2012. Latin and North America remained second and third largest markets for agrochemicals. The nutrient demand for corn is highest among crops such as wheat, cotton, sugarcane, etc. Hence, its production in North America (for bio-ethanol production also) is expected to increase the demand of agrochemicals in the region. Tight environment regulations in Europe are making it difficult for the manufacturers to launch products that comply with the existing regulations. The use of agrochemicals in the region is mainly used for food application. As for other use such as bio-polymers and bio-fuel, high construction and un-favorable economic condition is creating complex situation for the manufacturers.

In recent years, Asia-Pacific and Latin America has registered a strong demand for agrochemicals and the trend is expected to continue in the near future, majorly due to increasing population, driven by India, China, and Brazil. In the Rest of the World (ROW) region, the demand of pesticides is mainly from Africa. This is because the nutrient profile of the region's soil is declining in various countries. Farmers with less awareness or resources continue to cultivate the field without restoring the nutrients of the soil. This is causing a decline in region's productivity of crops.

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